Risk Factors Update Summary

• Termination of partnership with Walmart resulted in $79.7 million impairment charges for 2023.
• Loss of Walmart partnership led to the wind down of AC Lens operations, impacting profitability.
• Capital deployment reduced funds for other purposes by repurchasing $100.0 million of 2025 Notes.
• Loss of Walmart partnership may impair ability to attract and retain management, impacting operations.
• Total borrowings decreased from $150 million to $146 million with a weighted average rate of 3.4%.
• Increased wage investments to recruit vision care professionals may impact operating costs.
• LIBOR transitioned to another benchmark after June 30, 2023, affecting existing obligations.
• Dependence on a few payors for managed care revenues poses a concentration risk.
• Amended credit agreement to add customary LIBOR replacement provisions, impacting borrowing costs.
• Loss of significant suppliers may hinder timely product sourcing, affecting quality and standards.
• Completed the issuance of $302.5 million aggregate principal amount of 2025 Notes.
• Implementation of new ERP system may face delays, impacting order processing and business operations.
• Conversion of 2025 Notes into common stock adjusted issuance from 16 million to 12.7 million shares.
• Potential increase in cost of variable rate indebtedness due to transition to SOFR.